SUMMARY AS OF:
8/1/2002--Introduced.
Transportation Empowerment Act - Authorizes appropriations out of the Highway
Trust Fund (HTF) for the interstate maintenance program, the interstate and
Indian reservation bridge program, the Federal lands highways program, public
lands highways, parkways and park roads, highway safety programs, highway safety
research and development, and transportation research.
Amends provisions regarding transferability of funds to authorize a State,
upon determining that excess funds have been made available, to transfer the
excess funds to, and use such funds for, any surface transportation purpose
(including mass transit and rail) in the State.
Repeals provisions regarding the apportionment formula for resurfacing,
restoring, rehabilitating, and reconstructing the Interstate System. Sets forth
provisions regarding the apportionment of funds to the States for interstate
maintenance.
Amends the Internal Revenue Code (IRC) to: (1) extend the availability of HTF
funds for authorized expenditures; (2) set a core programs financing rate for
gasoline, special motor fuels, kerosene, and diesel fuel; (3) establish in HTF
an Infrastructure Special Assistance Fund; and (4) provide for the return of
excess tax receipts to States for transportation purposes.
Grants congressional consent to States to enter into interstate
transportation compacts for specified purposes.
Sets forth provisions regarding financing and authority of infrastructure
banks.
Amends the IRC to reduce taxes on gasoline, diesel fuel, kerosene, and
special fuels funding HTF.
Makes this Act contingent upon certification by the Director of the Office of
Management and Budget that this Act is deficit neutral and meets specified
requirements regarding discretionary spending limits.